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Insurance and Reinsurance in a Changing Climate

Insurance and Reinsurance in a Changing Climate

Chapter:

(p.241)
12 Insurance and Reinsurance in a Changing Climate

Source:

Changing Climates in North American Politics

Author(s):

Virginia Haufler

Publisher:

The MIT Press

DOI:10.7551/mitpress/9780262012997.003.0012

This chapter examines how the insurance industry is responding to climate change risks today, and suggests how insurance companies may react in the future. It also discusses the changing impacts of natural disasters in the insurance sector, and the reaction of the North American insurance industry, and then goes to explore the decentralized nature of national regulatory institutions and the integrated nature of the insurance market itself. The chapter argues that major reinsurers play a large part in transmitting information about the influences of climate change and about appropriate standards for insurance contracts. Direct insurers, reinsurers, and national regulators all interact with customers and activists in a multilayered system that affects reactions to climate change.

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PRINTED FROM MIT PRESS SCHOLARSHIP ONLINE (www.mitpress.universitypressscholarship.com). (c) Copyright The MIT Press, 2018. All Rights Reserved. Under the terms of the licence agreement, an individual user may print out a PDF of a single chapter of a monograph in MITSO for personal use (for details see www.mitpress.universitypressscholarship.com/page/privacy-policy).date: 19 December 2018